DIDCOT, UK / ACCESSWIRE / August 17, 2020 / Altus Strategies Plc (AIM:ALS) (TSX-V:ALTS) (‘'Altus'' or the ‘'Company''), announces high grade drilling results from the FT Prospect at the Company's Tabakorole gold project ("Tabakorole" or the "Project") in southern Mali. The drilling was completed by Graphex Mining Limited (ASX:GPX) ("Graphex") under the joint venture ("JV") with Altus.

Highlights:

Results from an eight-hole (1,544m) diamond drilling programme at Tabakorole
Intersections include 4.7 g/t Au over 14.0m and 1.2 g/t over 31.0m (not true widths)
Potential 600m long north-west extension confirmed with 1.2 g/t Au over 12m
Project remains open along strike and down dip
Updated mineral resource estimate on Tabakorole is now being prepared
Graphex is earning an initial 33% interest in the Project under the JV
Altus holds a Net Smelter Return gold royalty on Tabakorole

Steven Poulton, Chief Executive of Altus, commented:

"We are encouraged to report the high grades and broad widths of gold mineralisation intersected from the recent drilling programme at Tabakorole. The programme was financed and completed by our ASX-listed JV partner Graphex Mining, which is earning an initial 33% interest in the Project. The intersection of 4.7 g/t gold over 14m, within a wider envelope of 38m averaging 2.1 g/t gold is excellent. The results have also extended a high-grade plunge that was not previously modelled in the 2007 historical mineral resource estimate. An updated independent mineral resource estimate is now being prepared, which will include results from the 11,736m of reverse circulation and 1,936m of diamond drilling that have occurred at Tabakorole since 2007."

"The potential of the 600m long north-west extension has also been confirmed, with an intersection of 1.2 g/t gold over 12m from the one diamond hole drilled in this area, which is in the vicinity of the recently reported shallow aircore drill intersection of 6.2 g/t gold over 6m from 14m depth."

"We look forward to updating shareholders on the progress at Tabakorole and specifically with news on the updated mineral resource estimate when available."

Drilling programme

The drilling was undertaken by Capital Drilling Limited and consisted of eight diamond drill holes for a total of 1,544m. The drill results are summarised in Table 1 below. The holes were drilled between -52 and -60 degrees inclination, perpendicular to the strike of the FT Prospect and ranged between 62.5m to 293.0m in length.

The programme was designed to:

Test high-grade plunge extensions;
Drill untested gaps in the deposit;
Drill a single hole into the north-west strike extension; and
Provide QAQC support for the deposit model.

Testing high-grade plunge extensions

One of the key aims of the programme was to target the interpreted high-grade plunge extension at the south-east end of the FT Prospect. Three holes were positioned to following-up on historical intersections of 2.5 g/t Au over 24m (hole 10FLRC-01A) and 2.6 g/t Au over 24m (hole 10FLRC-06A). Drilling successfully confirmed and expanded the high-grade plunge extension and returned the following results:

20TBK-DD_004: 2.1 g/t Au over 38m from 145m, including 4.7 g/t Au over 14m from 145m
20TBK-DD_001: 1.2 g/t Au over 31m from 191m, including 2.1 g/t Au over 6m and 4.0 g/t Au over 4m
20TBK-DD_003: 1.0 g/t Au over 35m from 170m, including 1.3 g/t Au over 20m from 173m

The mineralisation remains fully open to the south-east and represents a high priority target for follow up drill testing.

Drilling untested gaps

Despite the amount of historical drilling, numerous untested gaps within the FT Prospect exist. Three holes were drilled to infill some of these areas and provide greater continuity for the forthcoming updated mineral resource estimate:

20TBK-DD_005: target an untested gap and intersected 1.0 g/t Au over 47.0m to a maximum depth of 85.0m from surface. This area of the FT Prospect did not previously contribute to the historical resource estimate due to the low drill density. This hole demonstrates the continuity of the resource and is higher grade than the material immediately down dip. Hole 20TBK-DD-005 will be included in the new mineral resource estimate.
20TBK-DD_006: was drilled up-dip of historical hole 05FLDDH-14 (which intersected 11.2 g/t Au over 9m). This hole intersected 0.5 g/t Au over 25m.
20TBK-DD_002: was drilled on the same section as 20TBK-DD_006 and intersected 1.2 g/t Au over 27m.

North-west extension

The north-west extension represents a significant opportunity to grow the FT Prospect.

20TBK-DD_008 tested the north-western extension between previously drilled aircore holes. It will aid in interpreting the orientation of the orebody in this area. This hole successfully intersected both interpreted lodes returning 1.2 g/t Au over 12m from 41m and 0.8 g/t Au over 8m from 111m.

Results from this single diamond hole reinforce the potential along this part of the prospect, especially when viewed alongside the recent aircore drilling, which encountered a 28m wide zone with an average grade of 2.7 g/t Au and a best intercept of 6.2 g/t Au over 6m (see Company announcement of 06 August 2020).

Table 1: Tabakorole recent drill intersections

Hole ID

From (m)

To (m)

Intersection (m)

Grade (g/t Au)

20TBK-DD_001

191.5

223.0

31.5

1.23

including

191.5

195.0

5.5

2.14

and

213.0

216.6

3.6

4.01

20TBK-DD_002a

60.0

87.0

27.0

1.18

20TBK-DD_003

169.7

205.0

35.3

0.97

including

173.0

193.0

20.0

1.34

20TBK-DD_004

145.0

183.5

38.5

2.15

including

145.0

159.0

14.0

4.73

and

165.0

183.5

18.5

0.80

20TBK-DD_005

53.5

101.0

47.5

1.01

including

91.0

101.0

10.0

1.29

20TBK-DD_006

208.0

233.5

25.5

0.50

20TBK-DD_006

285.0

288.0

3.0

0.54

20TBK-DD_007

9.0

44.0

35.0

0.54

including

31.5

44.0

12.5

1.24

20TBK-DD_007a

54.0

59.0

5.0

0.80

20TBK-DD_008

41.0

53.0

12.0

1.21

20TBK-DD_008

111.0

118.5

7.5

0.78

20TBK-DD_008

146.0

149.5

3.5

0.80

Notes:

Intersections based on 0.5g/t Au cut off and ≤ 3m internal waste
Intersections are down-the-hole and do not represent true widths of mineralisation
No grade capping has been applied

Mineral Resource Update

Graphex intends to incorporate these results, along with assays from 11,736m of reverse circulation and 1,936m of diamond drilling which have been completed on the Project since 2007 into an updated mineral resource estimate.

Illustrations

The following figures have been prepared and relate to the disclosures in this announcement and are visible in the version of this announcement on the Company's website (www.altus-strategies.com) or in PDF format by following this link: https://altus-strategies.com/site/assets/files/4895/altus_nr_-_tbk_dd_17_aug_2020.pdf

Location of Tabakorole and Altus' other projects in Mali is shown in Figure 1.
Location of Tabakorole in southern Mali is shown in Figure 2.
Long section showing recent drilling and resource upside is shown in Figure 3.
Cross-section of 20TBK-DD_004 is shown in Figure 4.
Plan of the recently completed diamond drilling at Tabakorole is shown in Figure 5.

Tabakorole Project: Location

The 100 km2 Tabakorole gold project is located in southern Mali, approximately 280 km south of the capital city of Bamako. The Project sits on the Massagui Belt which hosts the Morila gold mine (operated by Barrick NYSE:GOLD, TSX:ABX), located approximately 100 km to the north. The Project is 125 km southeast of the Yanfolila gold mine (operated by Hummingbird AIM:HUM) and 100 km east of the Kalana gold project (operated by Endeavour Mining TSX:EDV). Mineralisation hosted on these properties is not necessarily indicative of mineralisation hosted at Tabakorole.

Tabakorole Project: Geology

Tabakorole comprises a 2.7 km long shear zone which is up to 200m wide, hosted in the Archaean and Birimian aged Bougouni Basin of the Man Shield of southern Mali. The geology is dominated by clastic sediments, cut by northwest trending deformation zones which host gold mineralisation. At least two, possibly three, Eburnean deformation events are believed to have affected the geology of Tabakorole. The Project hosts the FT Prospect comprised of mylonites, sheared diorite, gabbro, mafic dykes and late stage felsic dykes, within a folded and deformed metasedimentary package of meta-siltstone, meta-wacke and meta-sandstone. Mineralisation is locally most favourably associated where structures cut gabbro and along lithological contacts with gabbro.

Tabakorole Project: Historical exploration

The Project was discovered by a regional soil sampling programme completed on a 500m x 100m grid by BHP in the early 1990s. Since 2003, a total of 28,912m of DD, 31,943m of RC, 6,577m of auger drilling and 62,718m of AC have been completed, in addition to 1,400 line km of airborne geophysics. A selection of drill intersects from Tabakorole is shown in Table 2.

In 2010, a total of 58 RC holes (5,492m) were completed within and along strike of the FT Prospect. Results included 6.05 g/t Au over 18.0m from 12.0m (10FLRC-12A) and 2.53 g/t Au over 24.0m from 48.0m (10FLRC-01A) (not true widths).

Table 2: Tabakorole selected historical drill intersections

Hole ID

From (m)

To (m)

Intersection (m)

Grade (g/t Au)

10FLRC-12A

12.00

30.00

18.00

6.05

05TKRC-18

24.00

68.00

44.00

3.29

10FLRC-07

4.00

42.00

38.00

2.63

10FLRC-01A

48.00

72.00

24.00

2.53

05FLRC-51

80.00

96.00

16.00

9.31

06TKDDH-008

179.00

190.00

11.00

5.64

05FLRC-11

14.00

74.00

60.00

2.91

05TKRC-52

2.00

18.00

16.00

2.33

05FLRC-12

2.00

12.00

10.00

3.36

Notes:

Intersections based on 0.5g/t Au cut off and ≤ 2m internal waste
Intersections are down-the-hole and do not represent true widths of mineralisation
No grade capping has been applied

Intersections cited in this news release do not represent true widths of the mineralised intervals.

Cautionary note regarding historic data

Readers are cautioned that the historical data on Tabakorole in this written disclosure that has not been verified by a Qualified Person. Not all historical samples are available and Altus does not have complete information on the quality assurance or quality control measures taken in connection with the exploration results, or other exploration or testing details regarding these results. The historical drilling was predominantly angled at -60 and -55 degrees and intersected steeply dipping mineralisation. True width determinations are estimated to be 50-57% of the cited intersection lengths. There has been insufficient exploration to define a current mineral resource and the Company cautions that there is a risk further exploration will not result in the delineation of a current mineral resource.

Qualified Person

The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 "Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators".

For further information you are invited to visit the Company's website www.altus-strategies.com or contact:

Altus Strategies Plc
Steven Poulton, Chief Executive
Tel:+44 (0) 1235 511 767
E: info@altus-strategies.com

SP Angel (Nominated Adviser)
Richard Morrison / Soltan Tagiev
Tel: +44 (0) 20 3470 0470

SP Angel (Broker)
Abigail Wayne / Richard Parlons
Tel: +44 (0) 20 3470 0471

Yellow Jersey PR (Financial PR and IR)
Georgia Colkin / Charles Goodwin / Henry Wilkinson
Tel: +44 (0) 20 3004 9512
E: altus@yellowjerseypr.com

About Altus Strategies Plc

Altus Strategies is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company's focus on Africa and differentiated approach, of generating royalties on its own discoveries as well as through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.

Cautionary Note Regarding Forward-Looking Statements

Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.

Market Abuse Regulation Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR") until the release of this announcement.

Glossary of Terms
The following is a glossary of technical terms:

"AC" means Air Core drilling

"Au" means gold

"DD" means Diamond Drilling

"g" means grams

"g/t" means grams per tonne

"grade(s)" means the quantity of ore or metal in a specified quantity of rock

"JORC" means Joint Ore Reserves Committee

"JV" means Joint Venture

"km" means kilometres

"m" means metres

"NI 43-101" means National Instrument 43-101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators

analysis of the potential viability of a project's mineral resources

"ppm" means parts per million

"Qualified Person" means a person that has the education, skills and professional credentials to act as a qualified person under NI 43-101

"RC" means Reverse Circulation Drilling

"QAQC" means Quality Assurance and Quality Control

SOURCE: Altus Strategies PLC

ReleaseID: 601915

Phase 1/2a trial of Ampligen in combination with interferon alfa-2b in cancer patients with COVID-19 is on track for enrollment

OCALA, FL / ACCESSWIRE / August 17, 2020 / AIM ImmunoTech (NYSE American:AIM), an immuno-pharma company focused on the research and development of therapeutics to treat immune disorders, viral diseases and multiple types of cancers, today provided a business and pre-clinical/clinical update for the second quarter ended June 30, 2020.

Second Quarter 2020 Financial Highlights:

As of June 30, 2020, AIM had cash, cash equivalents and marketable securities of $40.3 million, as compared to $8.8 million as of December 31, 2019.
Research and development expenses for the second quarter ended June 30, 2020 were $1.46 million, compared to $1.10 million for the second quarter ended June 30, 2019.
General and administrative expenses for the second quarter ended June 30, 2020 were $1.72 million, compared to $1.94 million for the second quarter ended June 30, 2019.

The Company's complete financial results are available in the Company's June 30, 2020 Form 10-Q filed with the Securities and Exchange Commission on August 14, 2020, which is available at www.sec.gov and on the Company's website.

"AIM is engaged in extremely important and potentially groundbreaking pre-clinical and clinical research in critical unmet medical needs such as COVID-19 and cancer-providing us ‘multiple shots on goal' within large addressable markets. Given these multiple indications, AIM's strategy to support these trials has been to maximize third-party, non-dilutive funding directly awarded to the clinical sites, which we have accomplished in many of our trials. In addition, we had more than $40 million in cash, cash equivalents, and marketable securities on our balance sheet as of June 30, 2020. As a result, we believe we are extremely well positioned to execute on our strategy going forward, which, in turn, we expect will drive significant value for stockholders," said AIM CEO Thomas K. Equels.

COVID-19 General Updates:

Following the FDA's authorization of an IND on May 11, 2020, AIM entered into a clinical trial agreement on July 6, 2020, with Roswell Park Comprehensive Cancer Center to support Roswell Park's Phase 1/2a trial of Ampligen in combination with interferon alfa-2b in cancer patients with COVID-19, the disease caused by SARS-CoV-2. The trial is on track to commence patient enrollment soon.
AIM signed a trilateral material transfer and research agreement with Japan's National Institute of Infectious Diseases and Shionogi & Co., Ltd., a leading global pharmaceutical company headquartered in Japan, in order to test Ampligen as a potential vaccine adjuvant for COVID-19. Ampligen has been shipped to Japan, to be followed up with an additional shipment.

AIM is currently collaborating with Shenzhen Smoore, the world's largest vaping device manufacturer, to research the use of their innovative inhalation technology for enhaced delivery of Ampligen deep into the lungs at the first signs of COVID-19. The Company believes this approach may initiate a robust, therapeutic TLR3 response against the SARS-CoV-2 virus throughout the upper and lower respiratory system. Ampligen is scheduled to be shipped to Smoore for testing, pending resolution of various China import regulatory requirements.
Ampligen has been shipped to Utah State University to support the University's Institute for Viral Research in its pre-clinical testing againast SARS-CoV-2 and testing is underway.

COVID-19-induced Chronic Fatigue-like Illness Update:

Ampligen has proven to be a powerful drug conferring protective survival in SARS-CoV-1 animal experiments. Ampligen has also shown heightened levels of activity in Phase 2 and 3 trials with Chronic Fatigue Syndrome (CFS) patients. Ampligen, while experimental in the United States for CFS, is approved in Argentina and is the only late-stage experimental drug for CFS in the U.S. pipeline. Ampligen is also the first drug approved for severe CFS in the world. AIM is preparing to test Ampligen as a potential therapy for a SARS-CoV-2-induced chronic fatigue-like illness. AIM believes Ampligen may play an important role in addressing this multifaceted disease, including the potential post-infection debilitating aspects.

"There is a significant risk that SARS-CoV-2, the virus that causes COVID-19, will trigger a large number of chronic fatigue-like cases, similar to what occured in the prior SARS-CoV-1 epidemic," said Equels. "Ampligen's strong history of preclinical outcomes with the SARS-CoV-1 virus gives AIM hope for the drug's potential as a prophalaxis, as a vaccine adjuvant and as an early-onset treatment for the SARS-CoV-2 virus and for COVID-19-induced chronic fatigue-like illness. This potential therapy may be especially important for cancer patients, who face significantly increased risk of severe symptoms or death from COVID-19."

Myalgic Encephalomyelitis/Chronic Fatigue Syndrome Update:

AIM received clearance from ANMAT to import the first shipment of commercial grade vials of Ampligen to Argentina. The next steps in the commercial launch of Ampligen include ANMAT conducting a final inspection of the product and release tests before granting final approval to begin commercial sales. AIM has shipped Ampligen to its partner in Argentina, GP Pharm, which is required for testing and ANMAT release. Once final approval by ANMAT is obtained, the commercial launch of Ampligen in Argentina is planned. Further, AIM continues to pursue its Ampligen New Drug Application, or NDA, for the treatment of traditional CFS with the FDA.

Immuno-oncology Update: Equels further noted, "Given the advances in our third-party funded, investigator-sponsored cancer clinical trials, we believe there is real potential for AIM to become a powerhouse in oncology, as clinical data is reported in these trials. The fact that tens of millions of dollars in grants have been provided to world-class investigator/oncologists at top national cancer centers, from such esteemed organizations as Merck, the U.S. Department of Defense and the National Cancer Institute, clearly supports my faith in Ampligen."

Roswell Park Comprehensive Cancer Center and Moffitt Cancer Center have both received "Breakthrough Awards" from the U.S. Department of Defense in Brain Metastatic Breast Cancer. Together, these separate-but-parallel proposed clinical trials are receiving approximately $15 million in federal funding in part with a significant focus upon Ampligen as a potential synergistic agent in combination with several other immunotherapies, including pembrolizumab (Keytruda) and Intron A.
The National Cancer Institute issued an award of $14.5 million to Roswell Park Comprehensive Cancer Center to fund five clinical trials in melanoma, colorectal and ovarian cancers. These trials will test chemokine modulation incorporating Ampligen as an immuno-modulator, as part of a strategy to turn "cold" tumors into "hot" tumors.
Advanced Recurrent Ovarian Cancer – This Phase 1/2 study of Ampligen as an intraperitoneal therapy in advanced recurrent ovarian cancer has completed 12 subjects in Phase 1; the Phase 1 portion established intraperitoneal safety sufficient to proceed with a larger Phase 2 study (See below). (https://aimimmuno.irpass.com/Hemispherx-Reports-Positive-Safety-and-Survival-Data-in-Phase-1-Stage-4-Ovarian-Cancer-Clinical-Stud) We are awaiting publication of results. https://clinicaltrials.gov/ct2/show/NCT02432378
Advanced Recurrent Ovarian Cancer – Based upon the above, a 45-subject follow-up Phase 2 study of advanced recurrent ovarian cancer is underway principally funded via a Merck grant and using cisplatin, pembrolizumab and Ampligen. Enrollment commenced in January 2019 and numerous patients are now well into treatment. https://clinicaltrials.gov/ct2/show/NCT03734692 (https://aimimmuno.irpass.com/Hemispherx-Biopharma-Announces-Commencement-of-a-New-45-Subject-Clinical-Trial-Combining-Ampligen-an)
Stage 4 Metastatic Triple Negative Breast Cancer – Phase 2 study of metastatic triple-negative breast cancer using chemokine modulation therapy, including Ampligen and pembrolizumab. All patients have been treated or are near completion of treatment. https://www.clinicaltrials.gov/ct2/show/NCT03599453
Stage 4 Colorectal Cancer Metastatic to the Liver – Phase 2a study of Ampligen as
component of chemokine modulatory regimen on colorectal cancer metastatic to liver; the majority of the 12 planned patients enrolled and treated. https://clinicaltrials.gov/ct2/show/NCT03403634
Early-Stage Prostate Cancer – Phase 2 study investigating the effectiveness and safety of aspirin and Ampligen with or without interferon-alpha 2b (Intron A) compared to no drug treatments in a randomized three-arm study of patients with prostate cancer before undergoing radical prostatectomy. Patient enrollment has been initiated in this study designed for up to 45 patients. https://clinicaltrials.gov/ct2/show/NCT03899987
Early-Stage Triple Negative Breast Cancer – Phase 1 study of chemokine modulation plus neoadjuvant chemotherapy in patients with early-stage triple negative breast cancer has received FDA authorization; the objective of this study is to evaluate the safety and tolerability of a combination of Ampligen, celecoxib with or without Intron A, when given along with chemotherapy; the goal of this approach is to increase survival. This study is recruiting and is designed for up to 24 patients. https://clinicaltrials.gov/ct2/show/NCT04081389
A study of Ampligen as a drug for late-stage pancreatic cancer is complete and the research team at Erasmus M.C. is currently compiling the final data from this early access approval-based study. We are enthusiastically awaiting the publication of these results.

With the nation's health care system increasingly focused on the COVID-19 pandemic – and with cancer patients especially at risk for the disease – AIM recognizes that all cancer centers, like all medical facilities, must make the pandemic their priority. Therefore, there is the potential for delays in clinical trial enrollment and subsequent reporting in ongoing studies in cancer patients because of the COVID-19 medical emergency. However, AIM intends to move forward without delay and we believe the teams at all of the clinical sites are eager to keep forward momentum.

About AIM ImmunoTech Inc.

AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat immune disorders, viral diseases and multiple types of cancers. AIM's flagship products include the Argentina-approved drug rintatolimod (trade names Ampligen® or Rintamod®) and the FDA-approved drug Alferon N Injection®. Based on results of published, peer-reviewed pre-clinical studies and clinical trials, AIM believes that Ampligen® may have broad-spectrum anti-viral and anti-cancer properties. Clinical trials of Ampligen® include studies of cancer patients with renal cell carcinoma, malignant melanoma, colorectal cancer, advanced recurrent ovarian cancer and triple negative metastatic breast cancer. These and other potential uses will require additional clinical trials to confirm the safety and effectiveness data necessary to support regulatory approval and additional funding. Rintatolimod is a double-stranded RNA being developed for globally important debilitating diseases and disorders of the immune system.

Cautionary Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate" and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Among other things, for those statements, we claim the protection of safe harbor for forward-looking statements contained in the PSLRA. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. For example, significant additional testing and trials will be required to determine whether Ampligen will be effective in the treatment of COVID-19 in humans and no assurance can be given that it will be the case. Results obtained in animal models do not necessarily predict results in humans. Human clinical trials will be necessary to prove whether or not Ampligen will be efficacious in humans. No assurance can be given as to whether current or planned immuno-oncology clinical trials will be successful or yield favorable data and the trials are subject to many factors including lack of regulatory approval(s), lack of study drug, or a change in priorities at the institutions sponsoring other trials. In addition, initiation of planned clinical trials may not occur secondary to many factors including lack of regulatory approval(s) or lack of study drug. Even if these clinical trials are initiated, the Company cannot assure that the clinical studies will be successful or yield any useful data or require additional funding. Some of the world's largest pharmaceutical companies and medical institutions are racing to find a treatment for COVID-19. Even if Ampligen proves effective in combating the virus, no assurance can be given that our actions toward proving this will be given first priority or that another treatment that eventually proves capable will not make our efforts ultimately unproductive. We recognize that all cancer centers, like all medical facilities, must make the pandemic their priority. Therefore, there is the potential for delays in clinical trial enrollment and reporting in ongoing studies in cancer patients because of the COVID-19 medical emergency. No assurance can be given that future studies will not result in findings that are different from those reported in the studies referenced. Operating in foreign countries carries with it a number of risks, including potential difficulties in enforcing intellectual property rights. We cannot assure that our potential foreign operations will not be adversely affected by these risks.

Contacts:

Crescendo Communications, LLC
Phone: 212-671-1021
Email: aim@crescendo-ir.com

AIM ImmunoTech Inc
Phone: 800-778-4042
Email: IR@aimimmuno.com

SOURCE: AIM ImmunoTech Inc.

ReleaseID: 601838

SALT LAKE CITY, UT / ACCESSWIRE / August 17, 2020 / IONIQ Sciences, Inc. ("IONIQ" or the "Company"), is developing an advanced multi-cancer screen for early detection that has the potential to expand the therapeutic window, dramatically improve survivability and reduce the cost of healthcare. Today IONIQ Sciences announced that Dr. Ørjan G. Martinsen has joined its growing Scientific Advisory Committee. Dr. Martinsen is a world-renowned leader in bioimpedance, Editor-in-Chief and co-founder of Journal of Electrical Bioimpedance and past President of the International Society for Electrical Bioimpedance (ISEBI). During the past week, IONIQ Sciences has added two preeminent minds on bioimpedance (Dr. Martinsen and Dr. Sanchez) to its Scientific Advisory Committee.

Mr. Jared Bauer, IONIQ Sciences CEO, stated, "We are honored to welcome Dr. Martinsen to our Scientific Advisory Committee as we continue our expansion beyond lung cancer into a single screen for multiple cancers. Dr. Martinsen has dedicated his professional endeavors to advancing the field of bioimpedance through leadership positions in a number of global bioimpedance organizations and has been recognized with multiple awards. He has spent twenty years and counting at the University of Oslo advancing the field of bioimpedance. With more than 160 peer-reviewed scientific papers already to his credit, he is quite likely the most prolific contributor to the field of bioimpedance in the world. We are fortunate to have Dr. Martinsen on our growing Scientific Advisory Committee and believe it will serve us well as we actively prepare for the next phase of product development on our mission to commercialize a modern solution for the early detection of multiple cancers."

Dr. Martinsen added, "I joined IONIQ's Scientific Advisory Committee because we share a deep mutual belief in the importance of bioimpedance and health. By sharing my years of hands-on bioimpedance research, I believe it can help propel IONIQ's Electrical Impedance Analytics technology forward. The ability to detect cancer at its earliest, most-treatable stages when lives can be saved has profound value to society. Together, we will pursue potentially life-saving bioimpedance research with the goal of improving early cancer detection."

About IONIQ Sciences, Inc.

IONIQ Sciences, Inc. is developing an advanced multi-cancer screening technology for early detection that has the potential to expand the therapeutic window, dramatically improve survivability and reduce the cost of healthcare. IONIQ Sciences operates at the confluence of its Electrical Impedance Analytics (EIA) technology and Artificial Intelligence (AI). IONIQ Science's first product utilizing its proprietary analytic platform, the IONIQ ProLung Test™ for lung cancer, has been designated a Breakthrough Device by the U.S. FDA. ProLung rebranded to IONIQ Sciences in May 2020.

Forward-Looking Statements
Statements contained in this release that are not purely historical, including, without limitation statements regarding IONIQ Sciences' future performance and goals, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties such as those described in the IONIQ Sciences' Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent filings with the Securities and Exchange Commission. Such risks and uncertainties include inherent risks and uncertainties relating to IONIQ Sciences' ability to meet its funding requirements for its operations and other commitments and to obtain successful test results and regulatory approvals for its products. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections.

For further information
about IONIQ Sciences, Inc., please contact:

Andy Robertson | 1-801-503-9231| acr@IONIQsciences.com
IONIQ Sciences, Inc., Vice President of Business Development

IONIQ Sciences, Inc.
350 W. 800 N., Suite 214
Salt Lake City, Utah 84103
USA
www.IONIQsciences.com

Follow IONIQ Sciences, Inc. on Twitter, Facebook and LinkedIn: @IONIQSciences

SOURCE: IONIQ Sciences, Inc.

ReleaseID: 601850

CALGARY, ALBERTA / ACCESSWIRE / August 17, 2020 / Jade Leader Corp. (TSX.V:JADE) ("Jade Leader", or "The Company") is pleased to report on recent progress on its Wyoming Jade projects, including field work and Jade recovery from the newly defined Sky zone and testing of a representative selection of 2019 trenching samples.

Importantly, although extracted directly from enclosing bedrock, Jades recovered from the Sky Zone show both the irregular shapes and fine-grained textures of high quality, fine-grained Jades typically found at surface and long believed to be either alluvial deposits or ventifacts (stones sculpted by wind-blown sand). Historically these have been some of Wyoming's highest quality Jades, yet zealous surface collecting over the last century has reportedly nearly exhausted supplies (Wyoming Geological Survey reference to the historical material can be found at www.wsgs.wyo.gov/minerals/gemstones). As the only currently documented in-situ occurrence of this type of material, the Sky Zone provides the first indication that this Jade is not simply a weathering product and opens the possibility of future larger-volume production from hard-rock sources.

Sky Zone

The Sky Zone is the northeastern continuation of the Jade mineralization found in Trenches T1A and T1C in September/October of 2019 ( ref: NR 19-06, October 1, 2019 and NR 19-07 of October 24 2019). Small samples of Jade recovered at that time were processed over the winter with standard lapidary equipment to determine the material's color texture and consistency. This revealed very fine-grained, cryptocrystalline nephrite Jade with high translucency and uniform green colors. The target was revisited in July of 2020 to determine the geological controls on Jade distribution and to obtain larger samples for processing and potential test-marketing of Jade from the zone.

The Sky Zone has now been mapped over 49 feet (15 meters) of strike length, with Jade occurring as irregular lenses, nodules and pods within shear zones associated with an intrusive pegmatite dyke. The jade occurs along the pegmatite contact and in quartz veins and fracture fillings extending up to 6.5 feet (2 meters) into the country rock from the intrusive body. Samples were recovered from their hard rock source matrix by hand drilling and prying blocks free. The zone currently remains open in all directions.

A total of 110 pounds (49.9 Kg) of fine-grained green Jade has been recovered from the Sky Zone, with the largest single sample weighing 25.6 pounds (11.6 Kg). Another 51 pounds of Jade, partially to completely altered to a cream/ivory color, was also recovered. The most unusual Jade found was about 30 lbs. (13 kg) of green Jade with inclusions of sharp quartz crystals; this may have significant mineral specimen potential. Samples of all three types will be cleaned, classified and photographed for test marketing in local and international markets.

Observations linking the in-situ Sky Jades with Wyoming's historical surface high quality jades are made on the basis of the irregular shapes of the lenses, pods and nodules, their fine grain and consistent color as well as presence of quartz inclusions.

Photographs of the in-situ, extracted material and an initial polished sample of the Jade are included in this release as Pictorial-Sky Zone Jades (A-E).

Additional 2019 Trench Sample Evaluations

A total of 38 of the 52 samples recovered from trench T1C in September 2019 (combined weight of 1,930 pounds (875.4 Kg)) were selected for testing as representative of the breccia-hosted Jades of the T1 target area.

These samples were cut on one side to expose the stone's internal color, texture and translucency for detailed description. 36 of the stones ( 95% by weight of samples tested) passed the testing and workability evaluation; the remainder had defects and failed.

The material that passed is medium-grained and has a fairly uniform, mottled, medium to dark green color. It shows few fractures and has excellent competency. Translucency varies with grain size, and generally allowed light transmission of a few millimeters from a point source Jade light. Six of the samples were fully sanded and polished to show the range of colors and textures of the material. (See attached pictorial, T1 Target Ornamental Jades).

Thin (1-4 mm) slices of T1 target Jade collected south and west of trench T1C during the program were also cut to evaluate the stone's suitability as ornamental or architectural stone. The stone testing results to date have been very encouraging, so the Company has commenced a product development program based on this material to generate marketable finished product examples for test marketing in local and international markets.

Mr. Jean-Pierre Jutras, P.Geol., President of the Company, is the Qualified Person for the Company's Jade projects as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

On Behalf of the Board of Directors,

"Jean-Pierre Jutras"
Jean-Pierre Jutras, President/Director

Pictorial-Sky Zone Jades

Pictorial-T1 Target Ornamental Jades

SOURCE: Jade Leader Corp.

ReleaseID: 601938

NIAGARA FALLS, ON / ACCESSWIRE / August 17, 2020 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") is pleased to announce the application for the license from Health Canada of EHT's new Micro-Grow Cannabis facility at their Niagara Falls location has been submitted, as previously announced on September 24, 2019 and December 23, 2019.

The facility will serve two purposes: (1) to showcase EHT's technology for building Micro-Grow units for customers to come and view the merits and characteristics thereof; and (2) to allow EHT to grow up to 600Kg of medical grade cannabis for sale to customers.

EHT anticipates the licence will take from between 90 to 120 days to receive. Revenues from the facility are anticipated to commence in the first quarter of 2021. According to the Canada Cannabis Spot Index (CCSI), the current average selling price of medical grade cannabis in the last week was $6.28/g ($6,280/kg). Based on EHT's costing models, average production costs are forecast to be approximately $0.50 cents per gram, which is significantly lower than the industry average cost of $1.58 per gram. EHT expects to have lower average costs than the current industry average cost due to EHT's superior ENERTEC Grow Room technology that maintains consistent temperature and humidity, and EHT's ENERTEC Solar Panels and Alpha Outback Energy Off Grid technology.

EHT's CEO, John Gamble, commented, "This has taken a few months longer than anticipated due to the COVID 19 shutdown but we are moving ahead and it is a very important step for our company; we are excited to be able to demonstrate the efficacy of our technology, including EHT's patented systems in the grow unit. EHT's systems, by creating a climate-controlled environment and having a low cost base given the walls and solar of the grow unit, significantly benefit cultivators and micro growers alike. EHT's benefits by adding an additional vertical from which it can derive revenue.

About EnerDynamic Hybrid Technologies

EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. EHT's expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that is stronger than traditional wood or steel structural insulated panels, EHT provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial out buildings and emergency/temporary shelters. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. In addition to traditional support to established electrical networks, ENERTEC buildings excel where no electrical grid exists.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements herein that are not historical facts are forward‐looking statements. Forward-looking information relating to sales of the products (the "Opportunities") involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed or implied by such forward-looking information. Although EHT believes that the assumptions used in preparing the forward-looking information on the Opportunities outlined in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether a result of new information, future events or otherwise, other than as required by applicable securities laws.

FOR FURTHER INFORMATION PLEASE CONTACT

John Gamble
CEO & Director
(289) 488-1699
jgamble@ehthybrid.com
info@ehthybrid.com
Website: www.ehthybrid.com

SOURCE: EnerDynamic Hybrid Technologies Corp.

ReleaseID: 601942

Company Reports Positive Trends, Positive EPS and Strengthened Balance Sheet

JACKSONVILLE, FL / ACCESSWIRE / August 17, 2020 / GEE Group Inc. (NYSE AMERICAN:JOB) ("the Company" or "GEE Group"), a provider of professional staffing services and human resource solutions, today announced results for the fiscal third quarter ended June 30, 2020.

2020 Fiscal Third Quarter and Nine Month Highlights

Revenue for the 2020 fiscal third quarter was approximately $26.6 million and approximately $98.8 million for the nine-month period ended June 30, 2020. Although the Company's overall revenue has stabilized with an expected longer-term "bullish outlook", the onset and spread of COVID-19 ("coronavirus" or "pandemic") had an impact on GEE Group's business and revenue in the third quarter from the resulting client office and factory closures, postponement of customers' job orders and government mandated "lock-downs". These actions taken by businesses and state and local governments to mitigate the spread of the coronavirus primarily affected the Company's lower-margin contract staffing business (industrial services and office support) and, to a lesser extent, GEE Group's non-IT professional contract services and direct hire placement business. The higher margin IT services business was more resilient to the pandemic and some of the Company's IT services actually grew as compared to the comparable 2019 prior year periods. The resultant effects of the pandemic contributed to lower overall revenue by approximately 30% and by approximately 12%, respectively, as compared to overall revenue from the prior year fiscal third quarter and nine months ended June 30, 2019.

Contract staffing services contributed approximately $23.5 million or approximately 88% of revenue and direct hire placement services contributed approximately $3.1 million or approximately 12% of revenue for the fiscal third quarter ended June 30, 2020.This compares to contract staffing services revenue of approximately $33.2 million or approximately 87% of revenue and direct hire placement revenue of approximately $4.9 million or 13% of revenue for the comparable prior year third quarter. Contract staffing services revenue for the nine months ended June 30, 2020 was approximately $86.8 million or 88% of revenue and direct hire placement revenue was approximately $12.0 million or 12% of revenue. This compares to contract staffing services revenue of approximately $99.0 million or 88% of revenue and direct hire placement revenue of approximately $13.8 million or 12% of revenue for the nine-month period ended June 30, 2019.

Revenue from the combined professional contract and professional direct hire placement services, which is comprised of staffing and solutions in the information technology, engineering, healthcare and finance & accounting specialties, was approximately $23.7 million and approximately $85.8 million for the fiscal 2020 third quarter and nine months ended June 30, 2020 respectively. This represents approximately 89% and approximately 87% of total revenue for the 2020 fiscal third quarter and nine months ended June 30, 2020 respectively. This compares to approximately $32.7 million or approximately 86% of revenue and approximately $96.7 million or approximately 86% of revenue for the comparable prior year third quarter and nine months ended June 30, 2019 respectively.

Industrial services revenue was approximately $2.9 million for the 2020 fiscal third quarter and approximately $13.0 million for the nine months ended June 30, 2020. This compares to industrial staffing services revenue of approximately $5.4 million and approximately $16.2 million for the comparable 2019 fiscal third quarter and the nine months ended June 30, 2019 respectively.

Combined overall gross margin for the 2020 fiscal third quarter and nine months ended June 30, 2020 (which includes both contract and direct hire placement services) improved due to increases in the proportions of higher margin services in the fiscal 2020 third quarter and nine months ended June 30, 2020. Overall gross margin was approximately 36.4% and 34.6% for the fiscal 2020 third quarter and nine months ended June 30, 2020 respectively. This compared to 35.6% and 34.3% for the comparable prior year fiscal third quarter and nine months ended June 30, 2019.

Professional contract staffing services gross margin improved (excluding direct hire placement services) for the 2020 fiscal third quarter and was approximately 26.7% and approximately 26.5% for the nine months ended June 30, 2020. This compares to approximately 26.1% and approximately 25.7% for the comparable prior year fiscal third quarter and nine months ended June 30, 2019. The combined professional staffing services gross margin (including direct hire placement services) for the 2020 fiscal third quarter was approximately 36.3% and approximately 36.8% for the nine months ended June 30, 2020. This compares to 37.1% and 36.3% for the comparable fiscal 2019 third quarter and the nine months ended June 30, 2019 respectively. The changes in combined professional staffing services gross margin were primarily due to a higher amount of direct hire placement services revenue in the prior year third quarter and nine months ended June 30, 2019.

Industrial contract services gross margin for the 2020 fiscal third quarter was approximately 13% before the benefit of workers' compensation insurance premium rebates from the Ohio Bureau of Workers' Compensation and was approximately 37.1% including the benefit of the rebates. This compares to approximately 14.7% before the benefit of the rebates and approximately 26.8% including the benefit of the rebates for the fiscal 2019 third quarter. Industrial contract services gross margin for the nine-month period ended June 30, 2020 before the benefit of the rebates was approximately 14.2% and approximately 19.9% after the benefit of the rebates. This compares to approximately 14.1% before the benefit of the rebates and approximately 22.5% after the benefit of the rebates for the comparable period in fiscal 2019.

Selling, general and administrative expenses (SG&A) for the fiscal 2020 third quarter were approximately 38% of revenue and approximately $10.2 million (including acquisition, integration and restructuring expenses of approximately $1.6 million and noncash stock compensation expense of approximately $337,000) and decreased by approximately $1.4 million as compared to the fiscal 2019 third quarter. For the nine months ended June 30, 2020, SG&A was approximately $34.3 million as compared to approximately $34.5 million for the nine months ended June 30, 2019. SG&A for the nine months ended June 30, 2020, included an increase in allowance for doubtful accounts of approximately $1.7 million due from one industrial services client who filed for bankruptcy protection in March 2020.

GAAP loss from operations for the 2020 fiscal third quarter was significantly lower and approximately $1.7 million as compared to approximately $3.8 million for the 2019 fiscal third quarter. GAAP loss from operations for the nine months ended June 30, 2020 was approximately $4.2 million as compared to GAAP loss from operations of approximately $4.6 million for nine moths ended June 30, 2019.

GAAP net income including the effect of a gain on extinguishment of debt of approximately $12.3 million for the 2020 fiscal third quarter was approximately $7.2 million as compared to a GAAP net loss of approximately $6.8 million for the 2019 fiscal third quarter. GAAP net loss for the nine months ended June 30, 2020 was approximately $1.8 million as compared to GAAP net loss of approximately $14.2 million for the nine months ended June 30, 2019.

Adjusted earnings before interest, taxes, depreciation, amortization, noncash stock and stock option expenses, noncash goodwill impairment charge, and acquisition, integration and restructuring expenses and gain on extinguishment of debt (adjusted EBITDA, a non-GAAP financial measure) for the 2020 fiscal third quarter was approximately $1.4 million as compared to approximately $3.1 million for the prior year fiscal third quarter. For the nine months ended June 30, 2020, adjusted EBITDA was approximately $4.4 million as compared to approximately $8.8 million for the nine months ended June 30, 2019. The Company was able to produce positive adjusted EBITDA for the 2020 fiscal third quarter despite the coronavirus effects on revenue in part through implementation of targeted cost saving and cost reduction initiatives coupled with a "pivot" in sales and marketing efforts to industries and businesses that are benefiting from the pandemic and are using more alternative staffing arrangements including contingent labor and direct hire placement services offered by the Company. (see non-GAAP adjusted EBITDA reconciliations to GAAP net income (net loss) attached to this press release).

Select GAAP Balance Sheet Information as of June 30, 2020: net working capital of approximately $6.9 million, current ratio of approximately 1.3, cash position of approximately $16.6 million, shareholders' equity of approximately $39.7 million and net book value per common share of approximately $2.24.

GAAP Earnings Per Common Share Information: diluted earnings per common share of approximately $1.88 and approximately $1.48 for the fiscal 2020 third quarter and the nine-month period ended June 30, 2020, respectively, based on consolidated net income available to common shareholders of approximately $31.7 million for the fiscal 2020 third quarter and approximately $22.7 million for the nine months ended June 30, 2020.

CARES Act and Legislative/Executive Branch Update: The Payroll Protection Plan ("PPP") Loans totaling approximately $19.9 million received by GEE Group have provided critical liquidity for the Company and were utilized for the prescribed purposes during the fiscal 2020 third quarter. GEE Group anticipates that it will spend the remainder of the proceeds in the 2020 fiscal fourth quarter and apply for maximum forgiveness subsequent to the expiration of the 24-week period in accordance with the applicable S.B.A. and U.S. Treasury rules and regulations. In addition, relief in the form of a "payroll tax deferral" for payment of GEE Group's share of social security tax for certain employees continues in effect through December 31, 2020 based upon current rules and regulations. Proposed legislation introduced in Congress ("HEALS Act" and "HEROES Act") may, if a compromise is reached and legislation is enacted, and/or President Trump's "Executive Order" possibly provide additional economic benefits to the Company in the future.

Covid-19 ("coronavirus") Update, Impact and Business Trends: The global coronavirus pandemic had an initial impact on the Company starting approximately in mid-to-late March 2020, and the resultant mandated government "shutdowns", quarantines and business closures limited GEE Group's ability to have personnel in its offices and recruit and deploy human resources to its clients who, in many cases, shut down their business operations. The Company immediately adapted to the constraints and, with enhanced technology, migrated to "alternative work arrangements" including "work from home". GEE Group also adjusted its cost structure and reduced internal employee headcount based upon the lower demand for its services. The Company partially reopened offices, rotated shifts in offices for social distancing and created a "hybrid" work environment. A gradual re-opening of customers' businesses coupled with increased use of personal protective equipment, led to a gradual increase in demand in the latter part of the 2020 third quarter. Many furloughed employees have returned to work. The Company is experiencing increased demand and its business is on an upward trajectory.

Recently Completed Recapitalization and Restructuring: On June 30, 2020, GEE Group completed a recapitalization and restructuring transaction which substantially deleveraged the Company's balance sheet, significantly increased shareholders' equity by over $40 million pre-tax and improved the Company's overall financial condition. The Company eliminated a total of approximately $47.4 million of debt and related leverage consisting of $19.7 million of subordinated debt and approximately $27.7 million of preferred stock mezzanine financing at a substantial discount in exchange for cash of approximately $5.1 million inclusive of accrued interest and the issuance of approximately 1.8 million of GEE Group common shares. The Company is now much better positioned financially and is pursuing opportunities with commercial banks and other lenders to refinance all or a portion of its senior debt on more attractive terms including lower interest costs. This includes government assisted financing programs such as the "Main Street Lending Program".

Management Comments

Derek E. Dewan, Chairman and Chief Executive Officer of GEE Group, commented, "The market for contingent labor and human resource solutions has evolved well beyond the age-old strategies and processes that many staffing and recruiting firms still employ. Our Company continues to pivot, refine its internal processes and narrow its focus on new business opportunities in segments of the economy that benefit from the coronavirus pandemic. GEE Group has made significant investments in identifying and successfully implementing a multi-step sales and marketing approach that equips our field staffing managers to better engage targeted clients "real time" with greater success. On the heels of GEE Group's recent recapitalization and financial restructuring, we are now able to roll out this strategy nationwide."

Mr. Dewan further stated, "The current crisis that we are all unfortunately dealing with, while terrible in so many ways, has created pockets of business that we have been able to successfully garner with our revised sales focus and marketing strategy. We are pleased with the results we have seen thus far in test markets as our teams quickly master each element of the process. During the past several months, many competitors have reduced their sales and recruitment personnel through layoffs, and/or have closed offices in many markets. GEE Group has capitalized on the opportunity to acquire internal talent from this unemployed pool of well qualified candidates that would otherwise have been unavailable to the Company. We will continue to selectively hire the "best and brightest" from this group and are optimistic about their upcoming contributions, particularly on the new business development front."

Mr. Dewan concluded, "GEE Group's financial performance in the fiscal third quarter ended June 30, 2020 was exceptional despite COVID-19 and its negative effect on the U.S. and global economies. The Company has adapted to the "new normal". Business has stabilized nicely and is trending upward in an improving demand environment. GEE Group is well-positioned financially and I am excited about the prospects to grow revenue, continue to reduce and refinance debt on more attractive terms, optimize our capital structure, improve profitability and maximize shareholder value".

SEC Filings, Use of Non-GAAP Financial Measures & Other Financial Information

The aforementioned 2020 Fiscal Third Quarter and Nine-Month Highlights and Other Financial Information should be read in conjunction with all of the information included in GEE Group's Quarterly Reports filed with the SEC on Form 10-Q for the respective periods, Current Reports on Forms 8-K & 8-K/A and Information Statements on Schedules 14A & 14C filed with the SEC, and Annual Reports on Form 10-K filed with the SEC for the fiscal years ended September 30, 2019 and 2018.

Also, the discussion of financial results in this press release and disclosures regarding the use of non-GAAP financial measures and related schedules attached hereto which reconcile non-GAAP financial measures to the financial information prescribed by GAAP are important to readers to help gain a more comprehensive understanding of the Company's financial results. The non-GAAP financial measures and metrics of financial results or financial performance presented herein are not a substitute for the financial measures provided by GAAP and should not be considered as alternatives, replacements or superior to financial measures presented in accordance with GAAP.

The Company discloses certain financial information including non-GAAP adjusted EBITDA to supplement its GAAP financial statements because management uses these supplemental non-GAAP financial measures to help evaluate performance period over period, to analyze the underlying operating trends and results in its business, to establish operational goals, to provide additional measures of operating performance, including using the information for internal planning relating to the Company's ability to meet debt service, make capital expenditures and provide working capital needs. In addition, the Company believes investors already use these non-GAAP measures to monitor the Company's performance. Non-GAAP adjusted EBITDA is defined by the Company as net income or net loss before interest, taxes, depreciation and amortization (EBITDA) plus non-cash stock option and stock-based compensation expenses, plus acquisition, integration and restructuring costs, less gain on extinguishment of debt and plus noncash goodwill impairment charges. Non-GAAP adjusted EBITDA is not a term defined by GAAP and, as a result, the Company's measure of non-GAAP adjusted EBITDA might not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included, accordingly, in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above, however, should be considered in addition to, and not as a substitute for, or superior to net income or net loss and income or loss from operations as reported for GAAP on the Consolidated Statements of Income, cash and cash flows as reported for GAAP in the Consolidated Balance Sheets or on the Consolidated Statements of Cash Flows or other measures of financial performance prepared in accordance with GAAP, and as reflected on the Company's consolidated financial statements prepared in accordance with GAAP included in GEE Group's Form 10-Q and Form 10-K filed for the respective fiscal periods with the SEC. Reconciliations of GAAP net income or GAAP net loss to non-GAAP adjusted EBITDA are attached hereto.

Financial information provided in this press release may consist of estimates, projections, pro forma data and certain assumptions that are considered forward looking statements and that are predictive or hypothetical in nature and depend on future events. The estimates and assumptions and related projected or pro forma financial results may not be realized nor are they guarantees of future performance.

GEE GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(In Thousands)

ASSETS

June 30, 2020

September 30, 2019

CURRENT ASSETS:

Cash

 
$
16,577
 
 
$
4,055
 

Accounts receivable, less allowances ($2,149 and $515, respectively)

 
 
13,689
 
 
 
20,826
 

Prepaid expenses and other current assets

 
 
1,449
 
 
 
2,221
 

Total current assets

 
 
31,715
 
 
 
27,102
 

Property and equipment, net

 
 
811
 
 
 
852
 

Goodwill

 
 
72,293
 
 
 
72,293
 

Intangible assets, net

 
 
19,960
 
 
 
23,881
 

Right-of-use assets

 
 
4,679
 
 
 
–
 

Other long-term assets

 
 
292
 
 
 
353
 

TOTAL ASSETS

 
$
129,750
 
 
$
124,481
 

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

 
$
2,627
 
 
$
3,733
 

Acquisition deposit for working capital guarantee

 
 
3
 
 
 
783
 

Accrued compensation

 
 
6,351
 
 
 
5,212
 

Short-term portion of term loan, net of discount

 
 
–
 
 
 
4,668
 

Subordinated debt

 
 
–
 
 
 
1,000
 

Current Paycheck Protection Program Loans

 
 
7,851
 
 
 
–
 

Current operating lease liabilities

 
 
1,690
 
 
 
–
 

Other current liabilities

 
 
6,313
 
 
 
3,172
 

Total current liabilities

 
 
24,835
 
 
 
18,568
 

Deferred taxes

 
 
400
 
 
 
300
 

Paycheck Protection Program Loans

 
 
12,076
 
 
 
–
 

Revolving credit facility

 
 
11,828
 
 
 
14,215
 

Term loan, net of discount

 
 
36,767
 
 
 
36,029
 

Subordinated convertible debt

(includes $0 and $1,269, net of discount, respectively, due to related parties)

 
 
–
 
 
 
17,954
 

Noncurrent operating lease liabilities

 
 
4,036
 
 
 
–
 

Other long-term liabilities

 
 
148
 
 
 
595
 

Total long-term liabilities

 
 
65,255
 
 
 
69,093
 

Commitments and contingencies

MEZZANINE EQUITY

Preferred stock; no par value; authorized – 20,000 shares –

Preferred series A stock; authorized -160 shares; issued and outstanding – none

 
 
–
 
 
 
–
 

Preferred series B stock; authorized – 5,950 shares; issued and outstanding – 0 and 5,566 at June 30, 2020 and September 30, 2019, respectively; liquidation value of the preferred series B stock is approximately $0 and $27,050 at June 30, 2020 and September 30, 2019, respectively

 
 
–
 
 
 
27,551
 

Preferred series C stock; authorized – 3,000 shares; issued and outstanding – 0 and 60 at June 30, 2020 and September 30, 2019, respectively; liquidation value of the preferred series C stock is approximately $0 and $60 at June 30, 2020 and September 30, 2019, respectively

 
 
–
 
 
 
60
 

Total mezzanine equity

 
 
–
 
 
 
27,611
 

SHAREHOLDERS' EQUITY

Common stock, no-par value; authorized – 200,000 shares; issued and

outstanding – 17,667 shares at June 30, 2020 and

12,538 shares at September 30, 2019, respectively

 
 
–
 
 
 
–
 

Additional paid in capital

 
 
57,762
 
 
 
49,990
 

Accumulated deficit

 
 
(18,102
)
 
 
(40,781
)

Total shareholders' equity

 
 
39,660
 
 
 
9,209
 

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

 
$
129,750
 
 
$
124,481
 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(In thousands)

Three Months Ended

Nine Months Ended

June 30,

June 30,

2020

2019

2020

2019

NET REVENUES:

Contract staffing services

 
$
23,493
 
 
$
33,217
 
 
$
86,835
 
 
$
99,057
 

Direct hire placement services

 
 
3,101
 
 
 
4,884
 
 
 
11,996
 
 
 
13,764
 

NET REVENUES

 
 
26,594
 
 
 
38,101
 
 
 
98,831
 
 
 
112,821
 

Cost of contract services

 
 
16,925
 
 
 
24,521
 
 
 
64,654
 
 
 
74,093
 

GROSS PROFIT

 
 
9,669
 
 
 
13,580
 
 
 
34,177
 
 
 
38,728
 

Selling, general and administrative expenses

(including noncash stock-based compensation expense

of $337 and $531, and $1,290 and $1,661 respectively)

 
 
10,208
 
 
 
11,559
 
 
 
34,299
 
 
 
34,537
 

Depreciation expense

 
 
33
 
 
 
89
 
 
 
181
 
 
 
269
 

Amortization of intangible assets

 
 
1,125
 
 
 
1,396
 
 
 
3,921
 
 
 
4,189
 

Goodwill impairment charge

 
 
–
 
 
 
4,300
 
 
 
–
 
 
 
4,300
 

LOSS FROM OPERATIONS

 
 
(1,697
)
 
 
(3,764
)
 
 
(4,224
)
 
 
(4,567
)

Gain on extinguishment of debt

 
 
12,316
 
 
 
–
 
 
 
12,316
 
 
 
–
 

Interest expense

 
 
(3,334
)
 
 
(3,176
)
 
 
(9,618
)
 
 
(9,209
)

INCOME (LOSS) BEFORE INCOME TAX PROVISION

 
 
7,285
 
 
 
(6,940
)
 
 
(1,526
)
 
 
(13,776
)

Provision for income tax expense (benefit)

 
 
90
 
 
 
(106
)
 
 
271
 
 
 
400
 

NET INCOME (LOSS)

 
 
7,195
 
 
 
(6,834
)
 
 
(1,797
)
 
 
(14,176
)

Gain on redeemed preferred stock

 
 
24,475
 
 
 
–
 
 
 
24,475
 
 
 
–
 

NET INCOME (LOSS) ATTRIBUTABLE TO COMMON

STOCKHOLDERS

 
$
31,670
 
 
$
(6,834
)
 
$
22,678
 
 
$
(14,176
)

BASIC EARNINGS (LOSS) PER SHARE

 
$
2.01
 
 
$
(0.57
)
 
$
1.58
 
 
$
(1.22
)

DILUTED EARNINGS (LOSS) PER SHARE

 
$
1.88
 
 
$
(0.57
)
 
$
1.48
 
 
$
(1.22
)

WEIGHTED AVERAGE SHARES OUTSTANDING:

BASIC

 
 
15,792
 
 
 
12,041
 
 
 
14,368
 
 
 
11,609
 

DILUTED

 
 
16,805
 
 
 
12,041
 
 
 
15,373
 
 
 
11,609
 

Reconciliation of Non-GAAP Adjusted EBITDA to GAAP Net Income (net loss)
Quarter Ended June 30,
(In thousands)

2020

2019

Net income (net loss), GAAP

 
$
7,195
 
 
$
(6,834
)

Interest expense, net

 
 
3,334
 
 
 
3,176
 

Income tax expense (credit)

 
 
90
 
 
 
(106
)

Depreciation expense

 
 
33
 
 
 
89
 

Amortization expense

 
 
1,125
 
 
 
1,396
 

Stock compensation & stock option exp.

 
 
337
 
 
 
531
 

Acquisition, integration & restructuring

 
 
1,561
 
 
 
564
 

Noncash goodwill impairment charge

 
 
–
 
 
 
4,300
 

Gain on extinguishment of debt

 
 
(12,316
)
 
 
–
 

Other losses (gains)

 
 
(4
)
 
 
–
 

Non-GAAP adjusted EBITDA

 
$
1,355
 
 
$
3,116
 

Reconciliation of Non-GAAP Adjusted EBITDA to GAAP Net Income (net loss)
Nine Month Periods Ended June 30,
(In thousands)

2020

2019

Net income (net loss), GAAP

 
$
(1,797
)
 
$
(14,176
)

Interest expense, net

 
 
9,618
 
 
 
9,209
 

Income tax expense (credit)

 
 
271
 
 
 
400
 

Depreciation expense

 
 
181
 
 
 
269
 

Amortization expense

 
 
3,921
 
 
 
4,189
 

Stock compensation & stock option expense

 
 
1,289
 
 
 
1,661
 

Acquisition, integration & restructuring

 
 
3,245
 
 
 
2,990
 

Noncash goodwill impairment charge

 
 
–
 
 
 
4,300
 

Gain on extinguishment of Debt

 
 
(12,316
)
 
 
–
 

Other losses (gains)

 
 
2
 
 
 
–
 

Non-GAAP adjusted EBITDA

 
$
4,414
 
 
$
8,842
 

About GEE Group

GEE Group Inc. is a provider of specialized staffing solutions and is the successor to employment offices doing business since 1893. The Company operates in two industry segments, providing professional staffing services and solutions in the information technology, engineering, finance and accounting specialties and commercial staffing services through the names of Access Data Consulting, Agile Resources, Ashley Ellis, General Employment, Omni-One, Paladin Consulting and Triad. Also, in the healthcare sector, GEE Group, through its Scribe Solutions brand, staffs medical scribes who assist physicians in emergency departments of hospitals and in medical practices by providing required documentation for patient care in connection with electronic medical records (EMR). Additionally, the Company provides contract and direct hire professional staffing services through the following SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes.

Forward-Looking Statements

In addition to historical information, this press release contains statements relating to the Company's future results (including results of business operations, certain projections, future financial condition, pro forma financial information, and business trends and prospects) that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995 and are subject to the "safe harbor" created by those sections. The statements made in this press release that are not historical facts are forward-looking statements that are predictive in nature and depend upon or refer to future events. Such forward-looking statements often contain, or are prefaced by, words such as "will", "may," "plans," "expects," "anticipates," "projects," "predicts," "pro forma", "estimates," "aims," "believes," "hopes," "potential," "intends," "suggests," "appears," "seeks," or variations of such words or similar words and expressions. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and, consequently, as a result of a number of factors, the Company's actual results could differ materially from those expressed or implied by such forward-looking statements. The international pandemic, the "Novel Coronavirus" ("COVID-19"), has been detrimental to and continues to negatively impact and disrupt the Company's business operations. The health outbreak has caused a significant negative effect on the global economy, employment in general including the lack of demand for the Company's services which is exacerbated by government and client directed "quarantines", "remote working", "shut-downs" and "social distancing". There is no assurance that conditions will not worsen and further negatively impact GEE Group. Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include, without limitation: (i) the loss, default or bankruptcy of one or more customers; (ii) changes in general, regional, national or international economic conditions; (iii) an act of war or terrorism, industrial accidents, or cyber security breach that disrupts business; (iv) changes in the law and regulations; (v) the effect of liabilities and other claims asserted against the Company including the failure to repay indebtedness or comply with lender covenants including the lack of liquidity to support business operations and the inability to refinance debt, failure to obtain necessary financing from commercial sources or government programs such as the Main Street Lending Facility or other economic relief programs, failure to obtain partial or full forgiveness on payroll protection loans or the inability to access the capital markets and/or obtain alternative sources of capital; (vi) changes in the size and nature of the Company's competition; (vii) the loss of one or more key executives; (viii) increased credit risk from customers; (ix) the Company's failure to grow internally or by acquisition or the failure to successfully integrate acquisitions; (x) the Company's failure to improve operating margins and realize cost efficiencies and economies of scale; (xi) the Company's failure to attract, hire and retain quality recruiters, account managers and sales personnel; (xii) the Company's failure to recruit qualified candidates to place at customers for contract or full-time hire; (xiii) the adverse impact of geopolitical events, government regulations and mandates, natural disasters or health crises, force majeure occurrences, global pandemics such as the deadly "coronavirus" (COVID-19) or other harmful viral or non-viral rapidly spreading diseases and such other factors as set forth under the heading "Forward-Looking Statements" in the Company's annual reports on Form 10-K, its quarterly reports on Form 10-Q and in the Company's other filings with the Securities and Exchange Commission (SEC). More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to publicly update, revise, or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact:

GEE Group Inc.
Kim Thorpe
904.512.7504
invest@genp.com

SOURCE: GEE Group Inc.

ReleaseID: 601967

LONDON, UK / ACCESSWIRE / August 17, 2020 / Dialog Semiconductor plc (XETRA:DLG), a leading provider of battery management, AC/DC power conversion, Wi-Fi(R), Bluetooth(R) low energy, and Industrial ICs, today announced that it is expanding its collaboration with Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, by introducing its power management IC (PMIC) solutions for the R-Car M3 and R-Car E3 automotive computing platforms.

Building on the collaboration between the two companies on the Renesas' R-Car Gen 2 and R-Car H3 platforms, the power solutions for the R-Car M3 and R-Car E3 platform include the DA9063-A system PMIC and the DA9224-A sub PMIC. Each device is precisely configured to meet the specific power rail requirements including voltage levels, peak currents and power sequencing for delivering an "exact fit" power solution.

Dialog's highly integrated PMICs are extremely efficient, resulting in the smallest form factor at a low bill of materials (BoM) cost, while easing thermal design complexity, a critical factor in the adverse temperature environments of automotive systems.

"The expanded collaboration between Dialog and Renesas enables the leading automotive Tier-1 suppliers to deliver differentiated, reliable, high-performance and cost-effective electronic systems based on the industry leading R-Car platforms," said Tom Sandoval, Senior Vice President, Automotive Business Segment, Dialog Semiconductor. "As processing power demands and platform specific requirements continue to increase across automotive systems, our collaboration with Renesas delivers significant benefits to our joint customers."

The unique partitioning of system-level power delivery into highly configurable system PMICs and sub-PMICs enables the scalability and flexibility of Dialog's power management solutions. A wide variety of SoC system power specifications can be easily met using the same PMIC devices, allowing designers to optimize their power requirements throughout the design process. This delivers the most energy-efficient, high-performance product for the specific end application.

"Automotive electronics designers can easily make power configuration and sequencing changes to meet their SoC system with Dialog's flexible, scalable power solutions. Our joint work with Renesas enables SoC solutions with best-in-class power efficiency," Sandoval added.

The DA9063-A system PMIC and the DA9224-A sub-PMIC feature significant scalability and flexibility advantages while distributing heat dissipation in elevated temperature environments. The built-in configurability engines provide system designers with the ability to easily solve their power sequencing, thermal and system control challenges. An intuitive GUI (Smart Canvas) simplifies the customization to achieve an "exact fit" power management solution. The result is a highly optimized, cost-effective power management solution that enables the most competitive, differentiated system design.

All devices are available as full AEC-Q100 Grade 2 qualified devices.

Learn more about Dialog's SoC power solutions for Renesas processors here: https://www.dialog-semiconductor.com/power-solutions-renesas-processors

ENDS

NOTES:

Dialog and the Dialog logo are trademarks of Dialog Semiconductor plc or its subsidiaries. All other product or service names are the property of their respective owners. (c) Copyright 2020 Dialog Semiconductor. All rights reserved.

Media Contact:
Mark Tyndall
SVP Corporate Development & Strategy
Dialog Semiconductor
Phone: +1 (408) 845 8520
mark.tyndall@diasemi.com
Web: www.dialog-semiconductor.com
Twitter: @DialogSemi

About Dialog Semiconductor

Dialog Semiconductor is a leading provider of standard and custom integrated circuits (ICs) that power the Internet of Things and Industry 4.0 applications. Dialog's proven expertise propels the next generation of today's devices by providing Battery Management, Bluetooth(R) low energy, Wi-Fi, Flash memory, and Configurable Mixed-signal ICs, improving power efficiency, reducing charge times, while increasing performance and productivity on the go.

Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment it operates in. With decades of experience and world-class innovation, we help manufacturers get to what's next. Our passion for innovation and entrepreneurial spirit ensures we remain at the forefront of power efficient semiconductor technology for the IoT, mobile, computing and storage, connected medical, and automotive markets. Dialog is headquartered near London with a global sales, R&D and marketing organization. In 2019, it had approximately $1.4 billion in revenue and is consistently one of the fastest growing European public semiconductor companies. It currently has approximately 2,300 employees worldwide. The company is listed on the Frankfurt (FWB: DLG) stock exchange (Regulated Market, Prime Standard, ISIN GB0059822006).

For more information, visit www.dialog-semiconductor.com.

Contact:
Jose Cano
Director, Investor Relations
jose.cano@diasemi.com
+44(0)1793756961

SOURCE: Dialog Semiconductor Plc via EQS Newswire

ReleaseID: 601966

ANN ARBOR, MI / ACCESSWIRE / August 17, 2020 / ENDRA Life Sciences Inc. ("ENDRA") (NASDAQ:NDRA), the pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), today provided a business update and reported second quarter 2020 financial results.

"During the second quarter, we achieved another major milestone on the path to commercializing TAEUS with our 510(k) Premarket Notification submission to the U.S. Food and Drug Administration ("FDA")," said Francois Michelon, Chairman and Chief Executive Officer. "The submission represents the culmination of years of scientific research, quality system implementation, clinical data collection, and biocompatibility and safety testing. I'm very proud of the ENDRA team, especially for working tirelessly through an unprecedented global pandemic to ensure the submission was made on the aggressive schedule we set before COVID-19 was a consideration."

As Renaud Maloberti, Chief Commercial Officer, explained, "The FDA submission builds on the receipt of the CE Mark in Europe for our TAEUS liver system in the first quarter and positions the company to begin commercialization in two major markets in the second half of 2020 to start positively impacting the lives of more than 1 billion people globally affected by Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH)."

Q2 2020 and Recent Business Highlights

Completed 510(k) Premarket Notification submission to the U.S. Food and Drug Administration ("FDA") for TAEUS Fatty Liver Imaging Probe ("FLIP") on schedule, setting stage for potential clearance and commercialization in the U.S. in 2020.
Secured new partnership with the Medical College of Wisconsin ("MCW"), a world-renowned healthcare institution, for a clinical study of ENDRA's Thermo-Acoustic Enhanced Ultrasound (TAEUS™) device for assessing Non-Alcoholic Fatty Liver Disease ("NAFLD"). This represents the third research partnership for ENDRA, which will help bolster the clinical evidence and further establish the clinical utility of the TAEUS device in patients with NAFLD, as commercialization gets underway.
Advanced European commercialization strategy, following CE Mark approval, including advancing to final stages of establishing initial evaluation sites in key markets, as well as hiring an initial salesperson in the U.K. and identifying leading candidates in other key markets.
Increased intellectual property (IP) portfolio to 72 assets defined, filed and issued, including key platform patents in the United States, Europe and China to defend our technology and current and future clinical applications for which there are currently no practical clinical tools.
Remain on track with key milestones of establishing clinical evaluation reference sites in Q3 and initial sales in Europe in Q4 2020.

Financial Results for Quarter Ended March 31, 2020

Operating expenses increased to $2.9 million in the second quarter of 2020, up from $2.3 million in the same period in 2019. The increase in operating expenses was primarily due to expenses related to the development of our TAEUS product line, and costs associated with the pre-commercialization of TAEUS.
Net loss in Q2 2020 totaled $2.9 million, or ($0.20) per basic and diluted share, as compared to a net loss of $2.3 million, or ($0.31) per basic and diluted share in Q2 2019.
Cash balance at June 30, 2020 was $749,000 and totaled approximately $2.4 million as of August 14, 2020 due primarily to voluntary early warrant conversions, compared to $6.2 million at December 31, 2019, with no long-term debt outstanding.

Conference Call and Webcast Access
Management will host a conference call and webcast today at 4:30 p.m. ET to discuss the results and provide an update on recent corporate developments.

Dial-in Number
U.S./Canada Dial-in Number: 844-369-8774
International Dial-in Number: 862-298-0844

Replay Dial-in Number: 877-481-4010
Replay International Dial-in Number: 919-882-2331
Replay Passcode: 36535

A telephone replay will be available August 17, 2020 through 4:30 p.m. ET on August 24, 2020.

A live audio webcast will be available through the Events and Presentations page of the Investors section of the company's website at www.endrainc.com. A replay of the webcast will be available on the website for 90 days.

About ENDRA Life Sciences Inc.
ENDRA Life Sciences Inc. is the pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), a ground-breaking technology that mirrors some applications similar to MRI, but at 50X lower cost, at the point of patient care. TAEUS is designed to work in concert with one million ultrasound systems in global use today. TAEUS is initially focused on the measurement of fat in the liver, as a means to assess and monitor NAFLD and NASH, chronic liver conditions that affect over 1 billion people globally, and for which there are no practical diagnostic tools. Beyond the liver, ENDRA is exploring several other clinical applications of TAEUS, including visualization of tissue temperature during energy-based surgical procedures.www.endrainc.com

Forward-Looking Statements
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. Examples of forward-looking statements include, among others, estimates of the timing of future events and achievements, such as the expectations listed above under the heading "2020 Guidance"; making our 510(k) submission with the FDA and commercializing the TAEUS device; and expectations concerning ENDRA's business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, our ability to develop a commercially feasible technology; receipt of necessary regulatory approvals; the impact of COVID-19 on our business plans; our ability to find and maintain development partners, market acceptance of our technology, the amount and nature of competition in our industry; our ability to protect our intellectual property; and the other risks and uncertainties described in ENDRA's filings with the Securities and Exchange Commission. The forward-looking statements made in this release speak only as of the date of this release, and ENDRA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

Company Contact:
David Wells
Chief Financial Officer
(734) 997-0464
investors@endrainc.com
www.endrainc.com

Media Relations Contact:
Denise DiMeglio
(610) 228-2102
denise@gregoryfca.com

Investor Relations Contact:
Joe Hassett
(484) 686-6600
joeh@gregoryfca.com

ENDRA Life Sciences Inc.
Condensed Consolidated Balance Sheets

 
June 30,
 
 
December 31,
 

Assets

 
2020
 
 
2019
 

Assets

 
(unaudited)
 
 
 
 

Cash

 
$
748,561
 
 
$
6,174,207
 

Prepaid expenses

 
 
1,064,146
 
 
 
116,749
 

Inventory

 
 
340,687
 
 
 
113,442
 

Other current assets

 
 
121,951
 
 
 
130,701
 

Total Current Assets

 
 
2,275,345
 
 
 
6,535,099
 

Other Assets

Fixed assets, net

 
 
214,587
 
 
 
236,251
 

Right of use assets

 
 
372,720
 
 
 
404,919
 

Total Assets

 
$
2,862,652
 
 
$
7,176,269
 

Liabilities and Stockholders' Equity

Current Liabilities

Accounts payable and accrued liabilities

 
$
1,169,237
 
 
$
1,708,525
 

Convertible notes payable, net of discount

 
 
–
 
 
 
298,069
 

Lease liabilities, current portion

 
 
71,085
 
 
 
66,193
 

Total Current Liabilities

 
 
1240,322
 
 
 
2,072,787
 

Long Term Debt

Loans

 
 
337,084
 
 
 
–
 

Lease liabilities

 
 
308,366
 
 
 
342,812
 

Total Long Term Debt

 
 
645,450
 
 
 
342,812
 

Total Liabilities

 
 
1,885,772
 
 
 
2,415,599
 

Stockholders' Equity

Series A Preferred Stock , $0.0001 par value; 10,000 shares authorized; 896.225 and 6,338.490 shares issued and outstanding

 
 
1
 
 
 
1
 

Series B Preferred Stock, $0.0001 par value; 1,000 shares authorized; 0 and 351.711 shares issued and outstanding

 
 
–
 
 
 
–
 

Common stock, $0.0001 par value; 80,000,000 shares authorized; 16,437,491 and 8,421,401 shares issued and outstanding

 
 
1,644
 
 
 
842
 

Additional paid in capital

 
 
52,227,904
 
 
 
49,933,736
 

Stock payable

 
 
181,437
 
 
 
43,528
 

Accumulated deficit

 
 
(51,434,106
)
 
 
(45,217,437
)

Total Stockholders' Equity

 
 
976,880
 
 
 
4,760,670
 

Total Liabilities and Stockholders' Equity

 
$
2,862,652
 
 
$
7,176,269
 

ENDRA Life Sciences Inc.
Condensed Consolidated Statements of Operations
(Unaudited)

 
Three Months Ended
 
 
Three Months Ended
 
 
Six Months Ended
 
 
Six Months Ended
 

 
June 30,
 
 
June 30,
 
 
June 30,
 
 
June 30,
 

 
2020
 
 
2019
 
 
2020
 
 
2019
 

Operating Expenses

Research and development

 
$
1,487,049
 
 
$
1,304,808
 
 
$
3,005,195
 
 
$
3,078,306
 

Sales and marketing

 
 
134,763
 
 
 
88,343
 
 
 
249,718
 
 
 
145,161
 

General and administrative

 
 
1,269,467
 
 
 
932,021
 
 
 
2,737,212
 
 
 
1,848,924
 

Total operating expenses

 
 
2,891,279
 
 
 
2,325,172
 
 
 
5,992,125
 
 
 
5,072,391
 

Operating loss

 
 
(2,891,279
)
 
 
(2,325,172
)
 
 
(5,992,125
)
 
 
(5,072,391
)

Other Expenses

Amortization of debt discount

 
 
(3,858
)
 
 
–
 
 
 
(232,426
)
 
 
–
 

Other income (expense)

 
 
1,265
 
 
 
(9,199
)
 
 
7,882
 
 
 
(10,716
)

Total other expenses

 
 
(2,593
)
 
 
(9,199
)
 
 
(224,544
)
 
 
(10,716
)

Loss from operations before income taxes

 
 
(2,893,872
)
 
 
(2,334,371
)
 
 
(6,216,669
)
 
 
(5,083,107
)

Provision for income taxes

 
 
–
 
 
 
–
 
 
 
–
 
 
 
–
 

Net Loss

 
$
(2,893,872
)
 
$
(2,334,371
)
 
$
(6,216,669
)
 
$
(5,083,107
)

Net loss per share – basic and diluted

 
$
(0.20
)
 
$
(0.31
)
 
$
(0.45
)
 
$
(0.68
)

Weighted average common shares – basic and diluted

 
 
14,735,662
 
 
 
7,422,642
 
 
 
13,803,215
 
 
 
7,422,642
 

ENDRA Life Sciences Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)

 
Six Months Ended
 
 
Six Months Ended
 

 
June 30,
 
 
June 30,
 

 
2020
 
 
2019
 

Cash Flows from Operating Activities

Net loss

 
$
(6,216,669
)
 
$
(5,083,107
)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

 
 
44,014
 
 
 
39,744
 

Common stock, options and warrants issued for services

 
 
1,057,120
 
 
 
659,217
 

Amortization of debt discount

 
 
232,426
 
 
 
 
 

Amortization of right of use assets

 
 
32,199
 
 
 
 
 

Changes in operating assets and liabilities:

Prepaid expenses

 
 
(947,397
)
 
 
(98,358
)

Lease liability

 
 
(29,554
)
 
 
 
 

Inventory

 
 
(227,245
)
 
 
(14,837
)

Other assets

 
 
8,750
 
 
 
(93,075
)

Accounts payable and accrued liabilities

 
 
(493,676
)
 
 
391,809
 

Net cash used in operating activities

 
 
(6,540,032
)
 
 
(4,198,607
)

Cash Flows from Investing Activities

Purchases of fixed assets

 
 
(22,350
)
 
 
(5,238
)

Net cash used in investing activities

 
 
(22,350
)
 
 
(5,238
)

Cash Flows from Financing Activities

Proceeds from warrant exercise

 
 
50,438
 
 
 
–
 

Proceeds from loans

 
 
337,084
 
 
 
–
 

Proceeds from issuance of common stock

 
 
791,474
 
 
 
–
 

Payment for settlement of notes with stock

 
 
(42,260
)
 
 
–
 

Net cash provided by financing activities

 
 
1,136,736
 
 
 
–
 

Net decrease in cash

 
 
(5,425,646
)
 
 
(4,203,845
)

Cash, beginning of period

 
 
6,174,207
 
 
 
6,471,375
 

Cash, end of period

 
$
748,561
 
 
$
2,267,530
 

Supplemental disclosures of cash items

Interest paid

 
$
1,920
 
 
$
–
 

Supplemental disclosures of non-cash items

Conversion of convertible notes and accrued interest

 
$
493,814
 
 
$
–
 

Conversion of Series A Convertible Preferred Stock

 
$
636
 
 
$
–
 

Conversion of Series B Convertible Preferred Stock

 
$
36
 
 
$
–
 

Stock dividend payable

 
$
(137,909
)
 
$
–
 

Stock paid and payable for services

 
$
40,000
 
 
$
–
 

Lease liability for right of use asset at inception

 
$
–
 
 
$
439,355
 

SOURCE: ENDRA Life Sciences Inc.

ReleaseID: 601936

VANCOUVER, BC / ACCESSWIRE / August 17, 2020 / MGX Minerals Inc. ("MGX" or the "Company") (CSE:XMG)( FKT:1MG)(OTC PINK:MGXMF) is pleased to provide a petrographic report by Vancouver Petrographic Labs was completed on sample #303 taken from an upper portal at the Heino Money Gold Deposit. The report provides direction for upcoming metallurgy and process design expected to commence by month end. Summary comments, followed by the report in its entirety provided below.

"In this sample (#303), native gold occurs grossly with sulphides, but in detail, it is mainly concentrated in silicates (quartz and Mineral A), and is concentrated strongly in one patch 1.5-2 mm across. This detailed distribution would be important if and when the time comes for any metallurgical extraction of gold."

Sample 303 (see table below for analytical results)

Sample #

Weight kg

Au ppm

Au oz/ton

Ag ppm

Ag oz/ton

Pb %

Zn %

303

.94

207.0

6.04

94

2.7

1.015

3.38

Summary

Sample 303 is of massive sulphide dominated by intimate intergrowths of pyrrhotite (fresh to altered slightly to strongly to secondary Fe-minerals), sphalerite, quartz, and a silicate (Mineral A). Minor minerals include galena, hematite, arsenopyrite, chalcopyrite, and native gold (which occurs mainly in quartz and in Mineral A). Two proximal patches up to 1.5 mm across are of medium to coarse grained quartz. A vein is of pyrite and lesser silicate(s). A few seams are of sheared rock, one of which contains sphalerite and the others of which contain hematite/limonite Photo A.

Note: a polished thick section was prepared; thus, an unknown silicate (Mineral A) could not be identified optically. The K-feldspar stain on the offcut block indicates the presence of K-feldspar, mainly in a patch in one corner of the block near the large quartz patches.

Photo A

Petrographic Report

The sample is of massive sulphide dominated by intimate intergrowths of pyrrhotite (fresh to altered slightly to strongly to secondary Fe-minerals), sphalerite, quartz, and a silicate (Mineral A). Minor minerals include galena, hematite, arsenopyrite, chalcopyrite, and native gold (which occurs mainly in quartz and in Mineral A). Two proximal patches up to 1.5 mm across are of medium to coarse grained quartz. A vein is of pyrite and lesser silicate(s). A few seams are of sheared rock, one of which contains sphalerite and the others of which contain hematite/limonite.

mineral percentage main grain size range (mm)

quartz 50-55% 0.05-0.5; 1-5

pyrrhotite 10-12 0.1-0.3

sphalerite 5- 7 0.2-1

galena 0.3 0.1-0.3

hematite 0.3 0.005-0.02(?)

arsenopyrite 0.2 0.5-0.7

chalcopyrite 0.1 0.03-0.05

native gold minor 0.01-0.05

native silver (?) trace 0.005-0.01

Quartz occurs in two main modes. It forms two proximal medium to coarse grained patches, each of which is up to 1.5 cm across. It forms very fine to fine anhedral to locally euhedral grains intergrown very finely to finely with sulphides and with a second non-reflective mineral, Mineral A, probably a silicate.

Mineral A occurs with quartz in patches interstitial to sulphides; it has slightly lower reflectivity than quartz and in places contains inclusions of quartz.

Pyrrhotite forms anhedral patches intergrown very finely to finely with minor to abundant sphalerite and silicates. It is strongly anisotropic and strongly magnetic. Some patches are fresh, some are altered slightly to moderately to botryoidal aggregates of secondary Fe-sulphide, and some are altered moderately to strongly to secondary Fe-sulphides and patches of non-reflective opaque. A few patches were replaced by secondary pyrite.

Sphalerite forms anhedral grains, most of the larger ones of which contain inclusions of pyrrhotite as grains from 0.1-0.5 mm in size and as exsolution blebs from 0.005-0.015 mm in size.

Galena forms scattered to locally moderately abundant patches, mainly intergrown coarsely with sphalerite.

Hematite forms a few secondary massive to less commonly botryoidal patches that are intergrown coarsely with sphalerite, quartz, and pyrrhotite.

Arsenopyrite forms one euhedral prismatic grain in sphalerite with lesser quartz and pyrrhotite.

Chalcopyrite forms scattered patches, mainly in silicates and mainly near patches of sphalerite. It also forms elongates lenses up to 0.1 mm long in fractures in silicates.

Native gold is concentrated in one area up to 1.5 mm in size as abundant disseminated irregular grains in quartz and in Mineral A. Elsewhere it forms very few disseminated grains, mainly in quartz and Mineral A.

Native silver (or possibly galena) occurs locally with native gold or in quartz and Mineral A in the area with abundant native gold.

A vein up to 1 mm wide is of massive pyrite and patches of silicates.

A sheared zone up to 0.1 mm wide contain granulated sphalerite and silicates.

A few veinlets (possibly sheared zones) up to 0.15 mm wide contain limonite/hematite.

Qualified Person

Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of NI 43-101.

Advisors

Kingsdale Advisors is acting as strategic shareholder and communications advisor and Norton Rose Fulbright Canada LLP is acting as legal advisor to MGX Minerals Inc.

About MGX Minerals Inc.

MGX Minerals Inc. invests in commodity and technology companies and projects focusing on battery and energy mass storage technology, extraction of minerals from fluids, and exploration for industrial minerals and precious metals.

Contact Information

Neil Foran
Chief Financial Officer
neil@mgxminerals.com
Web: www.mgxminerals.com

Andy Radia
Director, Communications and Marketing
Kingsdale Advisors
Ph: 416-867-2357
aradia@kingsdaleadvisors.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward‐looking information. Forward-looking information in this press release include, but are not limited to, statements with respect to plans for assessment and other activities conducted and proposed to be conducted at the Heino-Money Deposit and Tillicum Claims, the preparation and filing of the Technical Report, and the preparation for structural engineering review for the purpose of underground bulk sampling. Forward‐looking information is generally, but not always, identified by the words "expects", "plans", "anticipates", "in the event", "if", "believes", "asserts", "position", "intends", "envisages", "assumes", "recommends", "estimates", "approximate", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

The Company's forward-looking information are based on the applicable assumptions and factors the Company considers reasonable as of the date hereof, based on the information available to the Company at such time, including without limitation, the receipt of any necessary permits, licenses and regulatory approvals, and the Company's ability to comply with environmental, health and safety laws. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, geological and environmental factors, operating or technical difficulties in connection with the activities contemplated in this press release, general economic conditions, or conditions in the financial markets. The reader is referred to the Company's public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company's profile on SEDAR at www.sedar.com. Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

SOURCE: MGX Minerals Inc.

ReleaseID: 601968

The Company also Announces Deployment at the only 24hr Montreal Pharmacy

TORONTO, ON / ACCESSWIRE / August 17, 2020 / Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) ("Predictmedix" or the "Company") is pleased to announce that it is deploying it's COVID-19 symptom mass screening technology in partnership with JUICEWORKS EXHIBITS (Juiceworks) at Flow water along with a 24h retail pharmacy in Montreal.

Deployment at Flow Water:

North America's first sustainably-sourced-and-packaged alkaline spring water company, Flow Water (Flow), continues to pioneer and lead the way in the health and wellness arena. They recently partnered with Juiceworks to implement COVID-19 Safe Entry Solutions powered by Predictmedix COVID-19 mass screening AI technology. The technology was deployed on Friday, August 14, 2020.

Founded by serial entrepreneur Nicholas Reichenbach, Flow has grown exponentially since its inception in 2015 with facilities in both Canada and the USA. The Aurora plant is an ideal candidate for a beta site for COVID-19 Safe Entry Solutions. Wellness and social responsibility are hallmarks of the Flow brand, making this emerging technology a welcome enhancement to their existing robust COVID-19 policies. An industry frontrunner, Flow has been diligent in ensuring they are continually embracing new and innovative ways to keep every member of the Flow family healthy and safe, and thereby contribute to the greater health and safety of their communities.

"Flow is an essential business providing high-quality products that help people maintain their wellness and positivity during these difficult times. The effects of even one case of Coronavirus at a production facility could significantly impact our ability to meet our customers' needs and harm our amazing workforce, and I have a responsibility to do everything I can to prevent that. Having Safe Entry's technology here may provide an extra layer of safety for the Flow family and ultimately our communities, and we're glad to be able to pilot this technology here in our flagship facility.", said Nick Reichenbach, Founder and CEO of Flow Water.

"Flow's passionate approach to health and wellness is perfectly aligned with the Safe Entry value proposition. Our goal is to help organizations throughout North America welcome their staff each day with peace of mind, knowing they are doing everything in their power to keep them safe.", said Jonathan Auger, President and Founder of Juiceworks.

Deployment at the Montreal pharmacy:

COVID-19 Safe Entry Solutions powered by Predictmedix will also be deployed at a large pharmacy in Montreal. The pharmacy is a busy location in the Montreal area as well as the only 24 hours pharmacy in Montreal. The technology deployment is set to happen within the next 2-3 weeks.

"Pharmacies play a key part in the continuity of care as well as access to certain primary care services. This unique role puts us at a crossroad between Healthcare and Retail. Additional to our continued focus on the safety of our teams and our customers, we are committed to taking the required actions to maintain access to our services and products to our community. We are excited to be working with Predictmedix as their technology will contribute to our focus on safety and access to our pharmacy.", said Nabil Chikh, Pharmacist and Owner of the pharmacy.

"The launch of our technology at the Montreal pharmacy positions our technology in a new vertical which has a need for our screening technology. As a vital part of the healthcare system, pharmacies play an important role in providing medicines, therapeutics, vaccines, and critical health services to the public. Ensuring continuous function of pharmacies during the COVID-19 pandemic is important. Therefore, there is a need to implement technologies which can create a safer environment in pharmacies for the employees, customers, and patients", said Dr. Rahul Kushwah, COO of Predictmedix.

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time."

About Predictmedix Inc.

Predictmedix Inc. is an artificial intelligence ("AI") company developing disruptive tools for impairment testing and healthcare. It is intended that the Company's cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice.

The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. is expanding its proprietary AI technology to screen for infectious diseases such as influenza and coronaviruses (COVID-19). Our current partners along with advisory board members have played a key role in gathering data pertaining to COVID-19, which has allowed us to develop a predictive mass screening tool for COVID-19. The technology is for mass screening and is to be used to predict and identify individuals who have the highest likelihood of being infected with COVID-19.

Additionally, psychiatric disorders such as depression, dementia and Alzheimer's disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer's disease. To find out more visit us at www.predictmedix.com

About JUICEWORKS

Founded in 1995 by Jonathan Auger, JUICEWORKS Exhibits began as a one-man team, servicing the exhibit marketing industry. Jon quickly earned the respect of clients and industry peers. This ultimately resulted in a substantial client increase and agency partners throughout North America. Today, with 2 North American locations (Toronto, Las Vegas), JUICEWORKS continues to deliver award-winning projects. Their exponential growth is evident in being recognized by Growth 500 as one of Canada's fastest growing companies 3 years running as well as Lenovo's small business of the year award for 2019. JUICEWORKS is acknowledged by clients globally as the go-to supplier for innovative design, quality craftsmanship and production. Their offerings include commercial space design and production, pop-up shops, custom exhibit/event fabrication, experiential marketing, mobile marketing initiatives, museums, and general contracting for events. To find out more, visit juiceworks.ca or getsafeentry.com.

Source: JUICEWORKS EXHIBITS

About Flow®

Flow is one of the fastest growing premium water brands in North America, offering naturally alkaline spring water in a range of flavors. Flow was founded in 2015 and is a B-Corp Certified company. Founded by serial entrepreneur Nicholas Reichenbach, Flow was introduced on the principal that naturally sourced spring water is one of the best forms of hydration. All Flow beverages are mindfully sourced from protected springs. Flow is packaged in a Tetra-Pak paper carton made from +/-75 percent renewable resources.

Due to its unique origins, Flow's water is filled with naturally occurring electrolytes, essential minerals, and an alkaline pH of 8.1. The Flow brand is available at over 20,000 retailers across the United States, Canada, and Europe including Whole Foods Market, Loblaws, Sobeys, Metro, Rexall, Farm Boy, Sprouts Farmers Market, CVS, Safeway, Wegmans, Harris Teeter, Walmart, Giant Eagle, Bristol Farms, Raley's, Vitamin Shoppe, and Planet Organic. For more information on Flow Alkaline Spring Water, please visit flowhydration.com, or follow Flow on social media; Instagram and Twitter and facebook.com/FlowHydration.

Source: Flow

For further information, please contact:

Dr. Rahul Kushwah, Chief Operating Officer
Tel: 647 889-6916
Email: rahul@predictmedix.com

Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

SOURCE: PredictMedix Inc.

ReleaseID: 601721